upgrade

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Upgrade

1. An improvement to an existing product. Some companies, especially technology companies, offer upgrades to customers for free or at a discount.

2. An improvement to the quality of securities in a portfolio. For example, one may sell a stock with a given risk and return and buy another stock with a higher return at the same level of risk. Alternatively, a security may upgrade by itself; for example, its issuer may announce higher than expected earnings, and, therefore, a higher dividend.

3. An increase in a bond rating. For example, if a bond goes from a junk rating to an investment-grade rating, the bond is said to be upgraded. This usually occurs when the issuer reduces its exposure to one or more risks.

upgrade

to replace an existing COMPUTER system (HARDWARE and/or SOFTWARE) by a more powerful model capable of processing data faster or storing larger amounts of data. When upgrading, computer users can experience problems of compatibility with existing programs and machines.
References in periodicals archive ?
The stripper is responsible for returning the gasoline used in the transportation of heavy crude from the oil field to the Upgrader, to be reused later.
In the JV Sincor upgrader became Petrocedeno Mixed Co.
Alexis said First Nations will continue to push for an upgrader, especially with the province embracing an economic partnership with Saskatchewan and British Columbia.
ENERGY RESOURCE-15 May 2008-Suncor Energy Shuts Down Upgrader as Part of Planned Maintenance(C)2008 JeraOne - http://www.
API Orinoco bitumen was signed in early November 1995 by Maraven and Conoco in a $3 bn venture to extract the extra-heavy crude and, through an upgrader at Jos, process it into 103,000 b/d of 22 deg.
The upgrader will have a capacity of 200,000 barrels per standard day.
Mok said : 'Refineries, upgraders, and other customers in the Heartland region have increasing demands for hydrogen.
Repairs after fires at other Alberta oil sands upgraders have taken anywhere from a few weeks to several months.
The pipeline will serve refiners, upgraders, chemical processors and other industries in the Alberta Industrial Heartland region and is scheduled to be commercial in 2010.
How the innovative "mechanical" upgrading process can crack heavy oil in significantly lower temperature, pressure and energy (cost) environments than conventional field upgraders or primary cracking technologies/processes currently in use